Deckers Outdoor (DECK) PT Raised to $74 at Stifel; FY20 EPS Power of $5.50-$6, Stabilizing Fundamentals Could Encourage Buyers
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Rating Summary:
25 Buy, 15 Hold, 0 Sell
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Up: 20 | Down: 14 | New: 22
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Stifel raised its price target on Deckers Outdoor (NYSE: DECK) to $74.00 (from $70.00) while maintaining a Buy rating following solid results and outlook amid its ongoing strategic review.
Analyst Jim Duffy said they were encouraged by a solid F4Q results and clarity on objectives for cost savings to yield a $100mn net benefit to EBIT and 13% operating margin by FY20.
He said assuming a revenue range of of $1.8-$2b, this implies F20 earnings power of approximately $5.50 to $6.00 suggesting potential for shares in the mid-eighties plus in 18 month.
On the strategic review, they continue to believe there could be good appetite from a strategic buyer, particularly with evidence of stabilizing fundamentals.
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